Locust Point Opinions (Baltimore, Towson: real estate market, condos, appliances)

[Clymer]

Hey everyone,

First a little bit about myself, I moved here a year ago and currently live in the MT. Washington area and really like it. I'm in my mid 30's and work for the University of Maryland Medical Center.

I currently rent, and am looking forward to purchasing my own home. I’m potentially looking for a townhouse, would like to be near everything, but don’t mind being far enough where I don’t have to deal w/ the congestion, loudness, etc. I have a car and don’t mind driving to get to such venues like eateries, grocery, etc.

I think I narrowed my search to the Locust Point area, but have a few questions.

1) I'm relatively new to Baltimore, so I’m very unfamiliar w/ the Locust Point vibe, that is in terms of diversity, safety, accessibility (shopping, restaurants, etc.). I’m Indian, are there any ethnic grocery stores in the area, restaurants?
2) I drove by the area and saw some townhouses near Fort McHenry, they are near the Silo condo’s, was wondering how the area was around there.
3) I saw a lot of railroad tracks, are they active, and would this hurt in terms of future resale? Also safety would be a concern.
4) Also, is this area overpriced especially given the state of the real estate market? I can afford between 400-500, but would prefer an area w/ good potential for appreciation.
5) Would any other areas in the city be better suited for me? Federal Hill, Otterbein or any others.
So any opinions about this area and in general would be greatly appreciated. Thanks for taking the time!

[dfredward]

Clymer, I really like Locust Point. I think it's a great consideration for people who don't mind being a few minutes away from the hubub of Federal Hill. It would be a hassle to me if I worked east of the harbor as the return trip thru Lombard St and down to Key Hwy would be difficult.

I've been meaning to try Himalya House on Fort Ave, and there's a new mexican restaurant, Miguel's, in Silo Point. The townhomes of McHenry Point on Steuart Street are very nicely done and within your price range. The rail road tracks are busy with trains.

If you're looking for appreciation, you may want to check out homes in Otterbein and condos in Harbor Court, on Lee Street. I think people have been less interested in these lately as they've been focusing on Federal Hill or the newer construction in Harbor East.

[Bong477]

I looked at both federal hill and locust point and ended up moving in near the border between the two neighborhoods.

Locust point is quieter and less congested. Parking is a bit easier (relative term of course, easier doesn't mean easy). There are plenty of places to eat and drink but they aren't as dense as some of the other neighborhoods. You could walk to federal hill if you wanted, but its a little far to do regularly for like dinner or whatever. Its safer in general than the other neighborhoods that ring the harbor, its one of, if not the, safest neighborhood in Baltimore, but again that's a relative term.

I don't think the train tracks are a big deal, but I don't personally live close enough to them to know first hand. They seem pretty desolate and well isolated via fences and what not. Resale value there should be okay (again relative to anywhere else in Baltimore).

Himalyan house may meet your speciality grocery needs... never been in there myself but people speak of it favorably.

IF for some reason i was to stay in Baltimore somewhat longterm (which isn't in my plans) I'd be looking for a newer rowhouse in locust point or one the harborview communities if I could afford it.

[Clymer]

dfredward,

Thanks for the prompt reply! I have been looking at the townhomes at McHenry Point, they are in my price point, and they seem like they are good construction, I haven't checked them out personally, but driven by them.

The only thing that worries me a little about Locust Pont, is the rail system that seems to wrap around it, worried about the noise, maybe being a an eyesore, and in terms of future retail value.

I actually also started looking at the Harbor East, seems a little pricey but maybe it has a better potential for growth.

There were also some homes in Federal Hill, I think they were called Federal Place townhomes, they looked really nice. But their price pont is a bit more than I was planning for, the area however seems very attractive.

Thanks for the info about the Himalayan House, and Otterbein I will check it out!

[Clymer]

Bong477,

Thanks for replying! Yeah one of the things that attracted to me to Locust Point was that it didn't seem to congested, I rather have things to do near where I live, not next to where I live. So far from what I researched, Locust Point seems to be a good fit, I will look at Harbor East also and see what it has to offer. Thanks for your advice!

If anybody else has opions, please contribute. Just trying to get as much 1st hand infor from peple who are familiar w/ the area.

[Be More]

Locust Point will have everything you need..its a lot of fun. As far as the traintracks are concerned...that is part of the draw to Locust Point. It still have an industrial feel that people enjoy.

[dfredward]

Clymer, 2br condos in the Vue will be in your price range. Just be prepared for the condo fees of about $700/month. Not sure why they're so high, since there are no amenities (a huge MAC gym is located within the building, but at an extra monthly cost). The condos are very nice and the location is awesome.

You should also check out Scarlett Place on the harbor, on President Street. The building is 20 years old, so many of the units may be outdated (laminate counters, older appliances, carpeting) but the prices are very affordable. There's an indoor pool and an exercise room there, and it's only a block away from Harbor East and across the street from Little Italy. There are great water views from units facing the harbor.

Keep us updated on your search!

[KennyP]

I tried so hard to talk my wife into Locust Point. I still regret not moving into that part of town.

[Clymer]

Hi guys,

So in th interim I have been looking at a few houses in the Locust Point Fed Hill area. So far this is what I have come up with:

Locust Point near Fort McHenry seems to be a quite place, given its location. I really didn't hear too much noise from the trains or anything else. I went there twice and so far I like it.

I actually went and visited the Silo Point Condos. I looked at a few different floor models at different price points, most of them 2 bedroom and I think 1 3 bedroom. They are very nice inside, even though only 2 bedroom, the floor plans were nice. A majority of them had a beautiful views. The downside of course was the condo fees. They ranged from 500-700, although they waive them the first year.

It's a nice building, has a lot of ammenities, however I don't think they are that willing to negotiate even though the building is 40% occupied. I'm just worried how much the condo fees will go up, if it continues to be vacant, and the general conditon of building maintenance.

The biggest concern I have is the city property tax rate, I'm a first time home buyer, so I have a question: I know we can deduct property tax when we file our taxes, how much of that can we deduct. Let's say for a house that has 10k in taxes, how much can we deduct?

The agent aslo showed some houses in Locust Point, they seem pretty well priced, she said they should go down a little more, so to wait (that was a first, hearing an agent say wait..) She also seemed very frustrated at the city tax rate, and had mentioned areas like stoneleigh, rodgers forge, for the tax benefit.

On a side note, went by the Shoppers in Locust Point, wasn't that impressed. I know that Mchenry Row has been in the pipeline for quite some time. Any news on the Harris Teeter coming this year, or is it wishful thinking.

So overall, I am very confused... I think Locust Point is a good place, just worried about taxes, and would you guys consider places like Stoneleigh, Anneslie, etc for the tax break?

dfredward, I looked at the Vue, like you said not feeling the condo fees, the agent had mentioned that Scarlett PLace had some construction issues, like balconies not being built correctly, so it may be a good deal, but aslo looks like it needs some work inside. But I will look into it more. Thanks!

KennyP, if you don't mind me asking what was the biggest reasin that kept you/wife away from Locust Point, and what do you think Locust Pont offers that your current location does not. Thanks!

Thanks guys for taking the time. I look forward to any advice that can be given. Have a great day!

[dfredward]

Clymer, you can usually deduct all property taxes from your gross income to get at your adjusted gross income. Of course, you can't deduct condo fees. There are lots of great areas outside the city, so I guess you need to decide just how close you want to be to points in the city. Towson has alot to offer in terms of shopping, and I like the downtown area just south of the mall. Stoneleigh, Rodgers Forge and Anneslie are all nice. I think Rogers Forge is more modest than the others?

Scarlett Place had some water leaks, so there has been construction to plug them and to repoint the brick. It was built in the late 80s so many of the units are dated, but it's in a great location and you can always update kitchens and baths.

Good luck with the home search!